AEX at record rate thanks to Prosus and Shell | Financial

Around 5 p.m., the AEX index is 1.4% in the plus at 757.8 points. Just before that, the stock market indicator touched the highest point ever at a position of 758.58 points and a large tightening of the previous record set earlier this month. The AMX advances 0.6% to 1062.6 points. The price boards in London (+0.9%), Paris (+0.5%) and Frankfurt (+0.4%) are also green.

According to Rein Schutte, investment advisor at Noesis Capital Management, Shell and ArcelorMittal, among others, are making a strong contribution to the good mood at Beursplein 5. He points out that the very strong recovery in commodity prices has given the performance of these companies a significant boost. “It can go wrong. More than a year earlier, investors had left these shares en masse.”

Schutte does not predict whether there is more in the barrel for the AEX. “There may be more volatility in prices in the coming months because of the uncertainty when governments will start with the phasing out of the stimulus. Unrest in the currency markets can indicate whether the nervousness of the stock markets will also increase. Furthermore, we have to wait for the continuation of the earnings season with, among other things, the figures of ING and the insurers next week.”

Amazon and the Fed

US stocks started higher this afternoon. After an hour and a half of trading, the Dow Jones index is 0.6% in the green. Tech stock Nasdaq rises 0.4%. After the closing of Wall Street, internet giant Amazon will release quarterly figures late tonight.

Wall Street largely took a step back last night after the US interest rate decision. The Fed kept interest rates unchanged, but sees the world’s largest economy recover so quickly that the targets of the stimulus policy are getting closer. Central Bank President Jerome Powell said the policy meeting discussed tapering bond purchases, but assured that it will be some time before the Fed raises interest rates.

Investment advisor Schutte emphasizes that the American interest rate decision produced few fireworks. “Powell stated in his statement what investors wanted to hear.”

Major stock markets in Asia saw mostly gains on Thursday. The Nikkei in Tokyo closed 0.7 percent in the plus. The Hang Seng index in Hong Kong posted an interim gain of 3% on the back of a strong recovery from Chinese tech companies.

Prosus in the lead in AEX

In the AEX, Prosus the frontrunner with a plus of 5.5%. The tech investor fell hard at the beginning of this week after the Chinese government wanted to get a better grip on the Tencent shareholding.

ArcelorMittal is also in demand with a price gain of 4%. The steel producer made a substantial profit in the second quarter thanks to the economic recovery from the corona crisis. CEO Aditya Mittal expects demand to increase further in the second half of the year. To reward shareholders, the group will buy back €2.2 billion in its own shares.

Shell gains 3.7% after a very good reception of the results. The oil and gas group has had a strong quarter thanks to high oil prices. In the same period a year earlier, Shell still suffered a significant loss as oil prices were hit hard by the corona pandemic. To reward shareholders, Shell will pay more dividends and the company will buy back $2 billion in its own shares. According to Schutte, these steps were already taken into account in the market.

Relx is 3.2% higher. The digital media group has increased its operating profit by 11% in the first half of the year with a 4% turnover growth. Earnings per share rose 10%. This beats the average expectations of analysts.

Unibail-Rodamco-Westfield less so with a decline of 1.3%. The retail property group is “cautiously optimistic” now that all shopping centers are open again. However, net rental income in the first half of the year was still more than a quarter lower than in the same period last year.

There is a gym chain in the AMX Basic-Fit (+3.9%) the biggest increase. Arcadis also likes it and thickens 3.6%. The consultancy and engineering firm saw its turnover and result rise in the past quarter and maintained its expectations for the coming years.

Fugro plus 2.5%. The soil researcher managed to make a profit again in the first half of the year after a significant loss in the same period a year earlier.

AMG shows a plunge of 5.8%. According to analysts at Degroof Petercam, the operating result at the specialized steel fund in the second quarter was slightly disappointing.

Smallcapfonds CM.com shoots up 7.5% after the report that the growth in the past quarter at the tech company from Breda went even faster than expected.

Sort faces a bloodletting rate of 9.8%. At the presentation of the results, the automation company announced that it had to make a provision of €1.6 million after a legal conflict with a supplier was lost.

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